Word: co
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Dates: during 1920-1929
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Large banks like to be the largest in some category. Until last week the Union Trust Co. of Cleveland had prided itself on being the largest bank between New York and Chicago. Also until last week the Peoples Wayne County Bank had prided itself on being the largest in Detroit. Now the status of both has changed. The Union Trust Co. of Cleveland has become the second largest between New York and Chicago; the Peoples Wayne County Bank is now but a part of the largest bank in Detroit. Largest between New York and Chicago and largest in Detroit will...
...bank control. Whirling daily at a faster rate, there are two main currents in the maelstrom. One is the expansion of single units through mergers and new branches. Of this last week's Detroit merger was an example, as was the Corn Exchange Bank and Trust Co.-National City Bank consolidation (TIME, Sept. 30). The other current is the grouping of separate units through one controlling corporation. Greatest examples of this are the Transamerica Corp., the Northwest Bancorporation, the First Bank Stock Corp., the Guardian Detroit Union group, the New Midland Marine Corp. (TIME, Sept. 30), the Bancohio Corp...
...paper new forests would have sprung up. For this reason three Canadian pulp and paper companies which combined last week estimated their 80,000,000-cord reserve as a practically perpetual supply. The companies, long closely affiliated, were Canada Power & Paper Corp. (which recently disposed of Laurentide Power Co. for $10,800,000, and is said to have placed the money in the call market), Port Alfred Pulp and Paper Corp. (owners of the town of Port Alfred), Wayagamack Pulp and Paper Co., Ltd. (specializing in kraft [wax] wrapping paper...
...reached the net sales total of $23,000,000. Last week it finally joined a long-planned department store merger which will consolidate it with Abraham & Straus (Brooklyn-Started in 1865 by Abraham Abraham, who was joined in 1893 by Isidor Straus, chinaware merchant), William Filene's Sons Co. (Boston-Headed by William E. Filene who unsuccessfully sought injunctions to prohibit large stockholders, including his brother, from voting for the merger), and F. & R. Lazarus & Co. (Columbus and Cincinnati-Founded in 1851). Combined annual sales will total...
...give an example of the havoc substitutes can play to a nicely adjusted supply and demand situation, always point to the anthracite industry. Gas, oil, bituminous (soft) coal, and Welsh anthracite have proven sturdy competitors to U. S. anthracite. Perhaps to find strength in union, the Glen Alden Coal Co. (W. W. Inglis, president) last week announced plans to purchase the Lehigh and Wilkes-Barre Coal Co. (Charles F. Huber, president). Two of the oldest and largest of anthracite companies, their combined annual production will be over 13,000,000 tons, greatest of any unit in the industry...